Crombie Real Estate Investment Trust (TSE:CRR.UN) Receives C$16.06 Consensus Target Price from Brokerages

Shares of Crombie Real Estate Investment Trust (TSE:CRR.UN) have received an average recommendation of “Buy” from the six analysts that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is C$16.06.

A number of analysts have weighed in on CRR.UN shares. Raymond James upgraded Crombie Real Estate Investment Trust from an “outperform” rating to a “strong-buy” rating and reduced their target price for the stock from C$17.25 to C$16.75 in a research note on Monday, January 13th. BMO Capital Markets raised their price target on shares of Crombie Real Estate Investment Trust from C$15.00 to C$16.00 in a research note on Monday, October 28th.

Crombie Real Estate Investment Trust Trading Down 0.2 %

Shares of TSE CRR.UN opened at C$13.85 on Wednesday. Crombie Real Estate Investment Trust has a fifty-two week low of C$12.25 and a fifty-two week high of C$16.22. The company has a debt-to-equity ratio of 120.87, a quick ratio of 0.11 and a current ratio of 0.14. The company has a market cap of C$1.49 billion, a price-to-earnings ratio of -49.46 and a beta of 0.95. The business’s 50 day moving average price is C$13.57 and its 200-day moving average price is C$14.31.

Crombie Real Estate Investment Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.0742 per share. This represents a $0.89 annualized dividend and a yield of 6.43%. The ex-dividend date of this dividend is Friday, January 31st. Crombie Real Estate Investment Trust’s payout ratio is -317.86%.

About Crombie Real Estate Investment Trust

Crombie Real Estate Investment Trust ("Crombie") is an unincorporated, open-ended real estate investment trust established under, and governed by, the laws of the Province of Ontario. Crombie is one of the country's leading national retail property landlords with a strategy to own, operate and develop a portfolio of high quality grocery and drug store anchored shopping centres, freestanding stores and mixed use developments primarily in Canada's top urban and suburban markets.